You can look into bundling the properties into a blanket portfolio loan to save on fees and closing costs.

For simplicity sake, let's assume a 40% expense ratio, giving a net operating income (NOI) of $216K.If we were to buy at their asking price of $2.99 million, we'd be looking at a cash-on-cash return of 7.2%, and that's without factoring in capital expenditures or debt service.I'd say this one has a looong way to fall before it's a deal!

If I were in your shoes I would request a fee estimate from your lender  

That probably also varies by state.If it was administratively closed, you might had some significant expense to resurrect it - like paying 10 years of back fees and filing 10 years of back reports. 

Not a fund.Syndication would allow you to receive "sweat equity" and fees as the General Partner running the deals.

Offer a Dispo fee.

not positive but ballpark guess not sure how much those cost yet... but im using the 70% formula so   364,080 x 70% - 30k (repairs) - 8,500(whoelsale fee) and i get $216,356 as my (MAO).

This can be accomplished by hiring a service for a fee.

Otherwise, you might end up spending more in attorney fees trying to fight this issue.

They might allow for a no seasoning rate and term refinance, but that would have you bringing your closing costs and and lender fees to the table.